Jim Cramer posted on X that bitcoin is “easy to prop up,” implying its price can be supported by manipulation or large holders.
Cramer wrote:
“Amazing how easy it is to prop up Bitcoin, isn’t it?”
The comments arrived as bitcoin traded around $86,411 after falling to an intraday low of $85,427, according to the report.
Strategy’s buying and the market move
Cramer’s post followed a major purchase by Strategy, which injected nearly $1 billion of buying pressure into the market between Dec. 8 and Dec. 14.
Strategy spent $980.3 million and bought at an average price of $92,124, but bitcoin later fell to about $85,000, meaning the market absorbed the buying and still sold off.
“Inverse Cramer” reactions
Commentary on social media focused on the “Inverse Cramer” meme, a long-running theory that Cramer’s market calls are often wrong and that traders should do the opposite.
Some users celebrated his negativity, arguing that bearish commentary can coincide with a market bottom.
BTC price
At the time of the update, bitcoin was changing hands near $86,411 after dipping to $85,427 intraday.
